Eli Lilly and Company (NYSE:LLY) is Princeton Capital Management LLC's 7th Largest Position

Princeton Capital Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,402 shares of the company's stock after purchasing an additional 496 shares during the quarter. Eli Lilly and Company comprises approximately 3.7% of Princeton Capital Management LLC's holdings, making the stock its 7th largest position. Princeton Capital Management LLC's holdings in Eli Lilly and Company were worth $11,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EFG Asset Management North America Corp. bought a new stake in Eli Lilly and Company during the 4th quarter valued at about $2,599,000. Prospect Financial Group LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $348,000. Modern Wealth Management LLC raised its holdings in Eli Lilly and Company by 50.7% in the 4th quarter. Modern Wealth Management LLC now owns 12,025 shares of the company's stock worth $9,283,000 after acquiring an additional 4,045 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Eli Lilly and Company in the 4th quarter valued at approximately $733,000. Finally, Haverford Trust Co boosted its stake in Eli Lilly and Company by 983.2% during the 4th quarter. Haverford Trust Co now owns 38,075 shares of the company's stock valued at $29,394,000 after purchasing an additional 34,560 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

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Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $6.91 on Thursday, reaching $819.85. 1,060,300 shares of the stock were exchanged, compared to its average volume of 3,145,757. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The firm has a market capitalization of $777.36 billion, a PE ratio of 69.99, a PEG ratio of 1.40 and a beta of 0.34. The company's 50-day simple moving average is $841.16 and its two-hundred day simple moving average is $837.54.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a share buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Citigroup lowered their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,009.72.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.